2024-02-09 10:21:43 ET
Summary
- eHealth has released limited preliminary results for 2023, showing healthy growth in its Medicare Advantage enrollments and positive trends on operating cash flow.
- However, the shares have struggled to hold value, losing ~25% since the start of 2024.
- eHealth looks fairly valued based on its near-term potential to sustain break-even if not yet positive operating cash flow, but the long-term trends are promising.
The fortunes of shareholders in eHealth ( EHTH ), one of the Medicare Advantage marketplace platforms for consumers, have been on a bit of a ride to start out 2024, between an analyst downgrade that initially sent shares reeling, only to be followed by the release of some preliminary year-end 2023 results that helped buoy the shares back up, though they have drifted down once again....
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eHealth: Fairly Valued, But Making Measurable Progress